Russia reveals price of gas for Ukraine in Q3 2016

Gazprom is ready to start gas supplies to Ukraine as soon as it receives prepayment

The price of gas that Russia's energy giant Gazprom will supply to Ukraine in the third quarter of 2016 will amount to USD 167.57 per 1,000 cubic meters, Gazprom CEO Alexei Miller told reporters in Moscow.

"The price for Ukraine according to the price formula set forth in the contract, which was signed in 2009, stands at USD 167.57 – Q3," Miller said.

Gazprom CEO also noted that the Ukrainian side has raised the issue of signing additional agreements to the existing contract. He argues the current contract does not require any additional agreements for the resumption of supplies to Ukraine. The only condition is to carry out the prepayment by the Ukrainian company.

"Currently, the price of gas under our contract is lower than that offered by European trading platforms. Purchases of Russian gas are profitable for Ukraine,"Miller said.